The lack of good-quality property is threatening the growth of the private rented market, the Association of Residential Letting Agents has warned.
According to its research, nearly 75% of members reported an undersupply of property compared to the number of prospective tenants in the second quarter of 2011. That figure jumped to 82% in central London.
This contrasts sharply with the same research two years ago, which found that just 10% of members across the county and 8% in London reported an undersupply.
The association said that with the number of homes to buy in the UK shrinking, more people were turning to the private rented sector. It warned that without investment incentives from government, the market would stall. It also urged ministers to look at regulation of the market to protect tenants and landlords.
Yesterday 48 MPs and peers formed an all-party parliamentary group to lobby and campaign for changes to the private rented market.
